Understanding Latest Technology RPA and AI ? What?s the Buzz?

Robotic process automation (RPA) is the application of technology that allows software ?robots? to mimic human actions on a computer to complete a business process Features:-

• Rules-based and repetitive
• High volume tasks preferred
• No self-learning
• Costly setup and maintenance
• Strict compliance of orders
• Inputs should be in predefined structured format only

Artificial Intelligence(AI) is the ability of computer systems to learn, reason, think, and perform task requiring complex decision-making Features: –

• Tasks need judgment
• Complex tasks can be handled
• Evolves with experience
• Looks for better ways to execute
• Reduced cost of setup
• New information formats can be handled based on experience

Technology Applications in O2C Processes